Cottonseed oil cake futures weaken as investors cut position

Cottonseed oil cake prices softened by Rs 82 to Rs 8,855 per quintal in futures trade today on cutting down of portfolios by investors, tracking a weak trend at the physical markets amid low export demand.

At the National Commodity and Derivative Exchange, cottonseed oil cake for delivery in May drifted lower by Rs 82, or 0.92 per cent, to Rs 8,855 per quintal with an open interest of 58,590 lots.

Similarly, the contract for delivery in April also moved fell by Rs 38, or 0.43 per cent, to Rs 8,810 per quintal with an open interest of 685 lots.

Marketmen said apart from mounting stocks on consistent

supplies from growing regions, weakness in export demand at the spot markets also pulled down cottonseed oil cake futures.